Avolon, an international aircraft leasing company, announces that it has placed 35% of the US$8.5 billion debt financing facilities, led by Morgan Stanley & Co. (Morgan Stanley) and UBS Investment Bank (UBS), for the acquisition of the aircraft leasing business of CIT Group.

Avolon successfully placed $2.975 billion with five banks: Barclays; JPMorgan Chase Bank N.A.; BNP Paribas; Credit Agricole Corporate and Investment Bank; and SunTrust Bank. The placement was increased from an initial target of 30%.

Concurrent with the closing of the placing, Avolon has also increased its unsecured revolving credit facility to $950 million.

READ MORE:
 
Avolon Holdings, an international aircraft leasing company, announces an agreement to acquire the aircraft leasing business of CIT Group, CIT Commercial Air, valued at over $43 billion (€38.67 billion).